The Federal Open Market Committee ends its two-day meeting this afternoon, and is expected to release a statement largely devoid of clues to when we'll see the first interest rate increase in nine years. Federal Reserve chairwoman Janet Yellen insists every remaining meeting of policymakers this year is a 'live' one in which policymakers could raise interest rates. In theory, that extends to this week's gathering - though most observers are discounting that possibility - nonetheless, the statement will be closely analyzed for clues on future rate increases. (CNBC)

The homeownership rate continued to decline in the second quarter of 2015, hitting a 48-year low. The seasonally adjusted homeownership rate declined to 63.5%, down from 64.7% in the second quarter of last year, according to estimates published by the Commerce Department. While that is a good sign for the rental market, overall, economists said that a lack of home buyers is likely a bad sign that incomes aren't keeping pace with rising home prices, keeping young buyers out of the housing market. (WSJ)

Emerging market currencies are feeling the pain as markets reprice in anticipation of US interest rate increases. The possible fed rate rise, dollar strengthening, and lower commodity prices have led EM currencies lower across the board. Currencies are typically a highly sensitive market, and are a great barometer of investor sentiment. Capital flows into developed economies are accelerating. (FT)